If you are selling your home you may have considered using seller financing to get it sold quickly. By seller financing we mean lending money to the person that is buying your home and acting as a financial institution for them. Contracts can be made up that allow you to loan the money to the buyer and then collect the interest from it.
This can greatly speed up the selling time for a home since many people do not meet the stringent requirements for mortgage loans at a bank. Also, a lot of people have a very hard time coming up with the initial down payment for their first home. If you need a quick sale you may consider seller financing as a viable option.
For informational purposes only. Always consult with a financial advisor before proceeding
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